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Wells Fargo restructures commercial banking business

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Wells Fargo restructures commercial banking business

Wells Fargo & Co. adopted a regional structure for its commercial banking arm and named the heads of the individual regions.

Wells Fargo Commercial Banking, which combines the company's business banking, government and institutional banking, and middle-market businesses, will be structured on a three-region model that the company said will simplify how it does business. Head of corporate banking Kyle Hranicky will continue to lead the unit.

The East region will be led by Kristin Lesher, who will be based in Washington, D.C.; the Central region will be led by Laura Oberst, who will be based in Minneapolis; and the West region will be led by John Manning, who will be based in Irvine, Calif.

In addition, Wells Fargo named David Pope to lead the chief operating office. He will be based in Charlotte, N.C.

All four executives are currently with Wells Fargo. Lesher was previously co-head of investment banking coverage, Oberst was the head of the business banking group, Manning was head of middle-market banking for the East region, and Pope was COO of the business banking group.